November 06, 2020
According to the research report titled ‘Polyvinyl Chloride (PVC) Market Share, Size, Trends & Industry Analysis Report [By Grade; By Application; By End-Use, By Regions] Segments & Forecast, 2019 - 2026‘, available with Market Study Report, global polyvinyl chloride (PVC) market is expected to grow with a CAGR of 7.2% during 2019-2026, subsequently reaching a valuation of USD 108.12 billion by the end of the forecast timeframe.
Flourishing building and construction industry, huge demand for advanced & lightweight automotive components, and growing medical devices industry are the major factors fueling global polyvinyl chloride (PVC) market growth. Further, several beneficial properties of PVC such as fire retardance, lightweight, abrasion resistance, high mechanical strength, toughness, and oil/chemical resistance are strengthening the product demand.
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Moreover, rapid expansion of several end-use industries due to increasing population with rising disposable income, followed by proliferating sales and new product launches in consumer electronics industries are positively influencing global polyvinyl chloride (PVC) market outlook.
However, increasing competition from steel and construction pipes, along with issues related to prohibition of PVC to construct green buildings are likely to hamper the global polyvinyl chloride (PVC) market growth in coming years.
From a regional perspective, Asia Pacific is a prime contributor to global polyvinyl chloride (PVC) market remuneration owing to high demand from countries like China, India, Vietnam, Indonesia and Thailand. Further, U.S. is leading the growth of North America polyvinyl chloride market as it is the largest exporter of PVC due to its strong offshore industry presence and economical worldwide shipping capabilities.